United Community Banks (NYSE:UCB) Raised to Strong-Buy at TD Cowen

United Community Banks (NYSE:UCB) was upgraded by investment analysts at TD Cowen to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $36.00 to $40.00 in a research report on Thursday, April 9th. Hovde Group lowered their price target on United Community Banks from $38.00 to $37.00 and set a “market perform” rating for the company in a report on Monday, April 27th. DA Davidson boosted their price target on United Community Banks from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Piper Sandler dropped their price objective on United Community Banks from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, June 17th. Finally, Stephens raised their price objective on United Community Banks from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.40.

United Community Banks Trading Down 1.8%

Shares of United Community Banks stock opened at $36.41 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.03. United Community Banks has a 12-month low of $28.65 and a 12-month high of $37.18. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 13.39 and a beta of 0.81. The firm’s 50-day moving average price is $33.98 and its two-hundred day moving average price is $33.35.

United Community Banks (NYSE:UCB) last issued its earnings results on Tuesday, April 21st. The company reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. United Community Banks had a net margin of 22.05% and a return on equity of 9.65%. The company had revenue of $278.26 million during the quarter. During the same quarter in the previous year, the firm posted $0.58 earnings per share. United Community Banks’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts forecast that United Community Banks will post 3.02 earnings per share for the current fiscal year.

Insider Transactions at United Community Banks

In other United Community Banks news, EVP Richard Bradshaw sold 1,510 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $33.09, for a total value of $49,965.90. Following the completion of the transaction, the executive vice president directly owned 84,497 shares in the company, valued at approximately $2,796,005.73. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in United Community Banks in the 4th quarter valued at approximately $29,000. Covestor Ltd grew its stake in shares of United Community Banks by 196.1% in the fourth quarter. Covestor Ltd now owns 992 shares of the company’s stock worth $31,000 after purchasing an additional 657 shares during the last quarter. Torren Management LLC acquired a new stake in United Community Banks in the fourth quarter valued at $39,000. First Horizon Corp raised its position in United Community Banks by 51.7% during the 4th quarter. First Horizon Corp now owns 1,315 shares of the company’s stock worth $41,000 after purchasing an additional 448 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in United Community Banks during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Company Profile

United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company’s core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.

In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.